Fiserv gets ready for pan-European move to instant payments

Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Fiserv technology will support multiple ‘wave one’ banks for EBA RT1, the first pan-European clearing platform for real-time payments in euro.

Slated to go live 21 November 2017, EBA RT1 facilitates 24/7 payments in line with the SEPA Credit Transfer Instant (SCT Inst) Scheme of the European Payments Council (EPC).

Fiserv is enabling the shift to real-time payments for banks with a presence in a total of nine European countries. The banks utilize the Dovetail payment solution from Fiserv, which was the first to be tested and confirmed ready for SCT Inst in partnership with a leading European bank earlier this year.

The Dovetail payment solution offers unmatched support for real-time clearings, including RT1, TIPS and Equens across Europe, and STET in France and Belgium. The Dovetail solution enables native, real-time item level processing and support for 10 instant payments infrastructures globally, including the new U.S. real-time payment capabilities available through Zelle® and The Clearing House.

Fiserv is a market leader in euro RTGS and SEPA transaction processing volumes and provides SEPA processing for EBA STEP2, Equens, STET and EURO1 and TARGET2.

The Dovetail payment solution enables banks to connect to any of these clearings from a single platform in a way that best matches their needs, including direct connectivity or via SIA, EBICs, or SWIFT.

“As the European real-time payments market moves to execution phase, Fiserv is well positioned to deliver a real-time advantage to our clients,” said Martin Coen, senior vice president, Billing and Payments Group, Fiserv. “The flexibility of our solutions to deliver end customer payments seamlessly across all payment types is helping our clients to innovate more quickly and reliably than their competition.”

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